Bridal Store Chain With 8 Locations in NJ Files For Bankruptcy
A national chain of bridal stores, based just outside of Philadelphia with eight locations across New Jersey, has filed for bankruptcy protection.
And it's the second time this company has done so in the past five years.
However, those shopping at this particular chain as their wedding plans come together need not panic.
According to WPVI-TV, David's Bridal has filed for Chapter 11 bankruptcy protection.
The news comes just days after the formalwear store chain said it would be eliminating 9,236 positions across the United States. The Conshohocken, Pennsylvania-based retailer employs more than 11,000 workers, according to the Wall Street Journal.
Those 9,200 job cuts would represent over 80% of the company's total workforce.
NBC News reports the company said its stores will remain open and operations will continue as usual while it looks to sell key assets.
Corporate employees were the first to lose their jobs. Those working in distribution centers will likely be next to be laid off in June, followed by some store employees later this summer, per a report in the New York Post.
That paper also indicated some stores could begin closing in the coming months.
8 stores in NJ
David's Bridal has eight locations in New Jersey:
- East Brunswick
- Maple Shade
- Mays Landing
In 1950, David's Bridal started as a small boutique in Fort Lauderdale, FL. It is now the largest bridal chain in America with nearly 300 stores in 49 states.